Pat Maughan CEO, Hubbard Products
£62,041 grant from the Growing Business Fund for infrastructure and equipment.
An Ipswich based commercial refrigeration specialist is set to become a market leader due to their development of a revolutionary, zero-emission truck refrigeration unit.
The environmentally-friendly technology will be manufactured thanks to a £62,000 grant, secured with the support of New Anglia Growth Hub. The company is also set to employ an additional 12 people to meet demand.
Hubbard Products is one of the UK’s leading designers, manufacturers and suppliers of commercial cooling equipment with a global reputation for innovation and design.
This new truck refrigeration unit is powered by liquid nitrogen, rather than the more traditional diesel-powered vapour compression system.
In the diesel-powered system refrigeration accounts for around 20% of a truck’s diesel consumption and CO2 emissions. With the new technology, emissions are eliminated and costs significantly reduced.
However, manufacturing new units to meet demand requires upgraded infrastructure and equipment. This includes a liquid nitrogen storage tank, the construction of a new mezzanine floor and mechanical fit-out at an investment of more than £600,000.
CEO, Pat Maughan said, “The Growth Hub showed a real understanding of our business. It was fantastic that they recognised in the early stages that what we were doing would be eligible for financial support.”
Working closely with Growth Hub Business Adviser, Nigel Best, more than £62,000 in grant funding was secured, enabling Hubbard Products to drive forward the growth of their business.
Get in touch to find out how the New Anglia Growth Hub could help you. Call 0300 333 6536 or email firstname.lastname@example.org
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